Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity. Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity. Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity. Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Don't despair and consider the following links before "cashing out", or however you call that.

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity. Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Don't despair and consider the following links before "cashing out", or however you call that.

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity. Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Why? Please explaiin.

Firstly I don't see how Bitcoin is going to be under the operational control of any but those who can afford the outlay for significant compute and network resources. Individual user's being 'peers' in the system seems hopeless. I suspect that it will be run by large generalist computer service corporations, and probably subsidized so as to obtain high value business intelligence. Like most e-mail is today. At that point I do not believe that it will be difficult for large governments to extract their own intelligence info either and it would not surprise me to see Bitcoin tolerated by TPTB for that reason.

I do believe that the internet is going to be under increasingly tight control, and it will be technically possible to restrict what most users say and do on it. Not all users, of course, but that is not required to change the flavor and capabilities of the Internet greatly. I mention this because I believe that it will be possible to manipulate who stays in business as a Bitcoin infrastructure provider and who does not. Even more than today using exclusively the regulatory authority which governments have. That again will prove incentive for infrastructure providers to play ball with fascist governments.

Nextly I believe that much of the actual value will be hoovered up by people who are already quite well off. We see it happening now. Of course it is pretty much a fact of life that the wealthy tend to end up with even more wealth, but with something 'deflationary' like Bitcoin, the effect will be even more quick. Here again there will be exceptions. Namely us tight fisted geeks, but we are such a tiny sliver of a minority that it does not matter in the scheme of things. If Bitcoin were truly a peer-to-peer solution which rode on the backs of the masses then the masses would probably have some leverage. It does not look to me like things are going to shake out that way.

I guess at the end of the day, Bitcoin focuses on solving a narrow range of problems, government currency inflation and money transfer control. It does not fix issues with large corporations monopolising markets, trademarking and copywriting everything to infinity..

I dont think Bitcoin should take on a Robin Hood style role, I dont think it should be taking the wealth from the rich and distributing it to the poor, it simply levels the playing field and puts everyone on the same rules for building wealth.

Next P2P project.. KarmaCoin.. A system to promote ethical, non greedy corporations and to prevent them from taking over and ascending to monopolistic positions.

All human inspiration and invention progresses from a clever application of a natural phenomenon to a carefully designed, optimized solution to the problem. Fire becomes the gas lamp (constrained fire), the incandescent light bulb (heat without burning) which turns into LEDs (pure photon emission). Stone building blocks become reinforced concrete, and then steel I beams. Gold becomes bitcoin.

Just because I want to, I'm going to use the high we hit last night.

And now.....the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):Bitcoin is 147.00. Gold is 1570.60Bitcoin: 2622.22%Gold: -7.07%Diff: 2829% advantage Bitcoin and Growing

All human inspiration and invention progresses from a clever application of a natural phenomenon to a carefully designed, optimized solution to the problem. Fire becomes the gas lamp (constrained fire), the incandescent light bulb (heat without burning) which turns into LEDs (pure photon emission). Stone building blocks become reinforced concrete, and then steel I beams. Gold becomes bitcoin.

Just because I want to, I'm going to use the high we hit last night.

And now.....the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):Bitcoin is 147.00. Gold is 1570.60Bitcoin: 2622.22%Gold: -7.07%Diff: 2829% advantage Bitcoin and Growing

As much as I think you're right long term, we're not there yet. Maybe some part of the gold market is going into the bitcoin market, but it's still not significant with regards to gold price. When central banks start buying btc as a reserve asset, then we'll see this transition. But we still have a long way to go (probably shorter than most people think thought).

As much as I think you're right long term, we're not there yet. Maybe some part of the gold market is going into the bitcoin market, but it's still not significant with regards to gold price. When central banks start buying btc as a reserve asset, then we'll see this transition. But we still have a long way to go (probably shorter than most people think thought).

Gold still correcting, bitcoin still exploding.

the key to investing is to get there before everyone else gets there, am i right?